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Dec 1, 2012
12/12
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and urge lawmakers to pass a tax cut extension for the middle cl. house speaker jo >>> president obama went to a toy making factory in a philadelphia suburb to sell his pitch and urged lawmakers to pass a tax cut extension for the middle class. house speaker john boehner says the president's proposal would be a blow to the economy. if a compromise isn't reached soon automatic tax hikes and steep budget cuts will kick in january 1. >>> and as budget talks continue little changed on wall street today. the dow closed with a 4 point game. the nasdaq lost 2. s&p 500 edged up less than a point. >>> anthem blue cross was first. now several other health insurers jumping on board with their own proposed double-digit rate hikes. cbs 5 consumerwatch reporter julie watts says, critics say that the move is a preemptive strike to raise the rates before healthcare reform kicks in. >> a 25% increase. i felt like i had been kicked in the stomach. >> reporter: a healthcare provider herself, pediatrician jan feels helpless. her individual blue cross health insurance p
and urge lawmakers to pass a tax cut extension for the middle cl. house speaker jo >>> president obama went to a toy making factory in a philadelphia suburb to sell his pitch and urged lawmakers to pass a tax cut extension for the middle class. house speaker john boehner says the president's proposal would be a blow to the economy. if a compromise isn't reached soon automatic tax hikes and steep budget cuts will kick in january 1. >>> and as budget talks continue little...
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Dec 4, 2012
12/12
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the measure called for a parcel tax to help fund fire services. >>> president obama is closely monitoring a week-long strike at two southern california ports. 800 members of the clerical union who work at the ports of los angeles and long beach had been working without a contract for more than two years. the clerks don't handle cargo but dock workers are refusing to cross picket lines forcing a shutdown of most terminals. experts estimate the strike is costing the u.s. up to $1 billion a day. and it could delay shipments of holiday gift merchandise. >>> there's a tentative contract agreement between port of oakland and union workers. two weeks ago, more than 500 members of seiu local 1021 went on strike. they had been at the bargaining table for 16 months. details of the agreement will be released when the contract is voted on tomorrow. >>> president obama will host a group of governors today to talk about the "fiscal cliff" after he rejected a counterproposal from congressional republicans. that plan promised to trim $2.2 trillion over the next 10 years and cuts from entitlements and bil
the measure called for a parcel tax to help fund fire services. >>> president obama is closely monitoring a week-long strike at two southern california ports. 800 members of the clerical union who work at the ports of los angeles and long beach had been working without a contract for more than two years. the clerks don't handle cargo but dock workers are refusing to cross picket lines forcing a shutdown of most terminals. experts estimate the strike is costing the u.s. up to $1 billion...
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Dec 6, 2012
12/12
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. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending cuts on the middle class. president obama and house speaker john baner -- john boehner spoke wednesday but publicly are holding firm on their positions. it's made clear the country could go over the cliff if congress fails to come to a agreement. the standoff and the country's skyrocketing debt concerned ryan ryan, so much so that he's the guy in the suit dancing gangnam style with former senator alan simpson. the can kicks back is working to get young people back to fixing the debt crisis. >> we're using humor to hook them in and get them to learn about this issue and understand how it affects their lives. >> reporter: the grass roots campaign wants to sign up more than two million people to put pressure on both sides. danielle nottingham, cbs news, washington. >>> 9news now is talking to our local congressional members about the fiscal cliff. and tonight at 7:00 p.m., maryland senator ben cardin will join derek mcginty in our studio. last night virginia democ
. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending cuts on the middle class. president obama and house speaker john baner -- john boehner spoke wednesday but publicly are holding firm on their positions. it's made clear the country could go over the cliff if congress fails to come to a agreement. the standoff and the country's skyrocketing debt concerned ryan ryan, so much so that he's the guy in the suit dancing...
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Nov 30, 2012
11/12
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. >>> and president obama presented his plan to avoid the "fiscal cliff" to members of congress. the $4trillion plan includes $1.6 trillion in new taxes on upper income americans. $400billion in cuts to medicare and other entitlement programs. $50billion in stimulus spending and the end of congressional control over the debt ceiling. both sides remain at a standoff over the issue of raising taxes on higher income earners. but the president said he will not sign any bill that does not include higher taxes for top earners. the white house is calling this proposal an opening bid but house speaker john boehner says no real progress is being made to reach a deal. could be an interesting day for us on wall street. >> i guess. they have a month to figure that out. in the meantime though there's a secret santa. i guess santa decide to do a little early work in the tri- state area, right? >> reporter: that's right. a so-called secret santa is giving away $100,000 in $100 bills to victims of superstorm sandy. a missouri man declined to reveal his name but he is carefully selecting his stop
. >>> and president obama presented his plan to avoid the "fiscal cliff" to members of congress. the $4trillion plan includes $1.6 trillion in new taxes on upper income americans. $400billion in cuts to medicare and other entitlement programs. $50billion in stimulus spending and the end of congressional control over the debt ceiling. both sides remain at a standoff over the issue of raising taxes on higher income earners. but the president said he will not sign any bill that...
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Dec 4, 2012
12/12
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president obama says those tax cuts must expire for households making $250,000 or more. >> it's a position that is supported by a majority of the american people. and, you know, we need to see from republicans an acknowledgement of that. >> reporter: the gop proposal that the white house quickly rejected closes tax loopholes and reduces deductions to raise 800 billion-dollar in new revenue. the plan cuts $600 billion in healthcare entitlement programs. >> we are overspending and until you deal with that issue you cannot raise taxes enough to be able to keep one a trillion dollars of accelerate spending. >> reporter: republicans dismissed the president's plan late last week. but now that both sides have numbers on the table, some congressional watchers believe those outlines may eventually help them find common ground. in washington, danielle nottingham cbs 5. >>> are you ready for more rain? >> i don't know. >> well -- >> i guess we need to be. >> another storm heading our way. coming up, lawrence tracks when it will get here with hi-def doppler. igh-def doppler.. plus.. forget your librar
president obama says those tax cuts must expire for households making $250,000 or more. >> it's a position that is supported by a majority of the american people. and, you know, we need to see from republicans an acknowledgement of that. >> reporter: the gop proposal that the white house quickly rejected closes tax loopholes and reduces deductions to raise 800 billion-dollar in new revenue. the plan cuts $600 billion in healthcare entitlement programs. >> we are overspending...
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Nov 29, 2012
11/12
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while president obama wants tax cuts to expire for the most wealthy americans, most americans don't. one told his gop colleagues to sign off on the middle class tax cut extension. the house speaker isn't budging. >> it will hurt small businesses and our economy. it's why it's not the right approach. >> reporter: obama administration officials will look for some middle ground in separate meetings with boehner and other congressional leaders on capitol hill thursday. danielle nottingham, cbs 5, washington. >>> it was too toxic for clothing but not too dangerous for furniture. >> but chemicals in our furniture and our baby products, the epa does not have the authority to regulate them and they end up in our bodies. >> how a california law is contributing to the problem. >>> a 3,000-mile tribute to a life lost much too young. the message friends want people hear as they run coast to coast. ,, now, you're probably sittinn a pound of toxic chemicals.5 consumerwatch reporter julie watts explains one of those >>> if you are sitting on/couch you're probably sitting on a pound of toxic chemica
while president obama wants tax cuts to expire for the most wealthy americans, most americans don't. one told his gop colleagues to sign off on the middle class tax cut extension. the house speaker isn't budging. >> it will hurt small businesses and our economy. it's why it's not the right approach. >> reporter: obama administration officials will look for some middle ground in separate meetings with boehner and other congressional leaders on capitol hill thursday. danielle...
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Dec 5, 2012
12/12
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president obama dug in his heels today insisting on tax revenues for higher income earners but at a hint of compromise he said he would consider lowering tax breaks again next year. mr. obama wants to raise taxes on individuals who make more than $200,000 a year and on couples making more than $250. he said this today. the way to recovery. bill whitaker reports from california. schools close as the flu bug spreads. elaine quijano reports on where the virus is woshs and how efgtd the vaccine can be. and what city in america. >> raise revenues that are sufficient to balance with >> the issues is that we are going to have to raise revenues that are sufficient to balance with very you have to cuts that we've already made and we're going to have to see the rates on the top 2% go up and we're not going to be able to get a deal without it. >> pelley: that, the republican house speaker said in response, will never work. the republican counter offer cuts spending and raises taxes for no one and nancy cordes has the state of play as of tonight. nancy? >> reporter: scott, a dispute erupted today ov
president obama dug in his heels today insisting on tax revenues for higher income earners but at a hint of compromise he said he would consider lowering tax breaks again next year. mr. obama wants to raise taxes on individuals who make more than $200,000 a year and on couples making more than $250. he said this today. the way to recovery. bill whitaker reports from california. schools close as the flu bug spreads. elaine quijano reports on where the virus is woshs and how efgtd the vaccine can...
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. >> reporter: president obama and his team are demanding that congress allow bush era tax cuts to expire. >> there is no responsible way we can govern this country with those low rates in place for future generations those rates have to go up. >> reporter: republicans have drawn a line in the sand on raising tax rates signaling they are open to raising revenue by reforming the tax code and limiting reductions for the wealthy. >> right now i would say we are nowhere. >> reporter: president obama asking for 1.6 trillion in new tax revenue over 10 years, boehner is offering half that. the president offering 600 billion dollars in cuts to medicare and other programs. the speaker says that is not enough. he hasn't outlined what he thinks should be cut. if they can't avoid the fiscal cliff, january 1st, nearly every american will pay more income tax between $2,000 to $2400 for the average family, 2% cut in payroll taxes will disappear, 500 billion dollars in automatic spending cuts in effect, half at the pentagon the other half from educating, transportation, food safety and research. economis
. >> reporter: president obama and his team are demanding that congress allow bush era tax cuts to expire. >> there is no responsible way we can govern this country with those low rates in place for future generations those rates have to go up. >> reporter: republicans have drawn a line in the sand on raising tax rates signaling they are open to raising revenue by reforming the tax code and limiting reductions for the wealthy. >> right now i would say we are nowhere....
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Dec 2, 2012
12/12
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in his weekly media address today, president obama again pushed his party's tax plan. of course, utah senator orrin hatch rejected in the republican response. >> both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress send it my way. >> what he proposed this week was a classic bait and switch on the american people. a tax increase double the size of what he campaigned on. billions of dollars in new stimulus spending, and an unlimited, unchecked authority tow borrow from the chinese. maybe i missed it, but i don't recall him scwg for any of that during the presidential campaign. >> jarvis: parents and school boards across the country are debating whether to offer bonuses to teachers whose student do well on standardized tests. sharyl attkisson check out how the bonus is working in the first city to try the idea >> reporter: tenth
in his weekly media address today, president obama again pushed his party's tax plan. of course, utah senator orrin hatch rejected in the republican response. >> both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress send it my way. >> what...
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Dec 4, 2012
12/12
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letting the bush tax cuts expire for the wealthy. in the statement, the white house said that the plan fails the balance test and sticks the middle class with the bill. >>> the gay marriage in california is still on hold tonight. the u.s. supreme court could have announced today whether they would review prop 8. instead the justices announced that they will wait until friday to discuss whether to take up the case. legal experts say the delay ruling means nothing. >> it's like we have so many cases on the docket. let's put this one off next week, no big deal. that's really what happened. it really isn't the dog that didn't bark, but it's the case that has not been resolved yet and we're still waiting. >> professor little says he expects if the court grants a review that we'll know by friday. but if the court decides to deny or simply postpone the review again, that announcement will come later. >>> a desperate search is underway for a sick child tonight. security cameras of the phoenix hospital show the 11-year-old girl leaving with h
letting the bush tax cuts expire for the wealthy. in the statement, the white house said that the plan fails the balance test and sticks the middle class with the bill. >>> the gay marriage in california is still on hold tonight. the u.s. supreme court could have announced today whether they would review prop 8. instead the justices announced that they will wait until friday to discuss whether to take up the case. legal experts say the delay ruling means nothing. >> it's like we...
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Nov 30, 2012
11/12
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president obama's insistence that any deal include higher tax rates for high-income earners. we asked wyatt andrews to tell us how that might affect small businesses. >> so we need a couple of boxes for these. >> reporter: kevin green owns two flower and gift shops in alexandria, virginia, and he says raising taxes on the wealthy won't just hurt him. it will hurt his workers and the economy. >> all you do is reduce the capital available for investment and employment. >> reporter: small business owners typically report business income on their personal taxes. in a good year, green's income will exceed $250,000, making him one of the taxpayers the president says should pay more. in his case, an estimated $8,000 more. what's the economic downside to asking eight more thousand dollars for you? >> i don't have $8,000 to spend on those employees or that inventory or the business that draws customers. >> reporter: by congressional estimates there are some 941,000 high-income small businesses. the president says that number includes truly rich small firms like hedge funds, but when r
president obama's insistence that any deal include higher tax rates for high-income earners. we asked wyatt andrews to tell us how that might affect small businesses. >> so we need a couple of boxes for these. >> reporter: kevin green owns two flower and gift shops in alexandria, virginia, and he says raising taxes on the wealthy won't just hurt him. it will hurt his workers and the economy. >> all you do is reduce the capital available for investment and employment. >>...
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Nov 29, 2012
11/12
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democrats moved by president obama and congressional republicans signaled they are willing to compromise on changing tax rates and spending reductions but the negotiations are moving very, very slowly. susan mcginnis is in washington with the latest. susan, good morning to you. >> reporter: good morning. the president is sending his top two negotiators to talk with lawmakers today about possible spending cuts. he's also getting ready to take his fiscal cliff message on the road. he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a campaign style event where he calls on lawmakers to extend the tax rates on families making less than $250,000 a year. once that's done they can wo
democrats moved by president obama and congressional republicans signaled they are willing to compromise on changing tax rates and spending reductions but the negotiations are moving very, very slowly. susan mcginnis is in washington with the latest. susan, good morning to you. >> reporter: good morning. the president is sending his top two negotiators to talk with lawmakers today about possible spending cuts. he's also getting ready to take his fiscal cliff message on the road. he'll try...
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Dec 7, 2012
12/12
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spending cuts and tax hikes that could kick in 25 days from now are threatening to ruin the holidays for millions of americans. >> the american people are counting on this getting solved. >> reporter: the two parties are leaving negotiations to the two main power brokers, president obama and house speaker john boehner. >> if the president doesn't agree with our proposal, he has an obligation to families and small businesses to offer a plan of his own. a plan that can pass both chambers of the congress. >> reporter: with the clock ticking toward the fiscal cliff deadline, government workers have joined the push but they want to make sure they're not cut out of the deal. >> federal employees that i represent have offered up $103 billion to the federal deficit. >> reporter: jd cox of the american federation of government employees say they can't afford anymore cuts and going over the fiscal cliff will impact millions of americans. >> there would be a lot of federal employees who would be furloughed or riffed and would lose their jobs. >> reporter: economists say the combination of autom
spending cuts and tax hikes that could kick in 25 days from now are threatening to ruin the holidays for millions of americans. >> the american people are counting on this getting solved. >> reporter: the two parties are leaving negotiations to the two main power brokers, president obama and house speaker john boehner. >> if the president doesn't agree with our proposal, he has an obligation to families and small businesses to offer a plan of his own. a plan that can pass both...
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Dec 1, 2012
12/12
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president obama took his case on the road today. he told people at a toy factory in pennsylvania he will insist on keeping tax rates where they are for middle income families and raising them for the wealthy. >> in washington nothing's easy. so yeah there's going to be so prolonged negotiations. and all of us are going to have to get out of our comfort zones to make that happen. >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. >> john baner says negotiations are going as he put it almost nowhere. without an agreement. hundreds of billions of dollars in tax increases take effect in january. >> if the fiscal cliff wasn't enough there's another problem that threatens to suck billions of dollars out of the economy. the california labor dispute that may need a nudge from the president. >> great news for anybody with about 26.2 miles of outdoor activity planned for the weekend. the weather may get worse. >> we have a lot mor
president obama took his case on the road today. he told people at a toy factory in pennsylvania he will insist on keeping tax rates where they are for middle income families and raising them for the wealthy. >> in washington nothing's easy. so yeah there's going to be so prolonged negotiations. and all of us are going to have to get out of our comfort zones to make that happen. >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put...
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Dec 5, 2012
12/12
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but president obama quickly dismissed it because it includes no tax increase for the wealthiest americans. >> the speaker's proposal right now is still out of balance. >> there's only one person out of 307 million americans who can sign something into law. that's the president. >> a "washington post" poll shows 53% of americans will blame republicans if the nation goes over the so-called "fiscal cliff." 29% would hold the president responsible. >>> shares of pandora media fell nearly 20% in after-hours trading on a disurge asking outlook for their current quarter. the oakland-based internet radio company says it expects to lose between 6 and 9 cents a share in the 4th quarter. they reported 3rd quarter profits tripled to $2 million. that worked out to a penny a share and apparently not enough. >>> "star wars" franchise is officially gone to disneyland. federal regulators have cleared disney's $4 billion purchase. lucasfilm. filmmaker empire behind the "star wars" franchise. sale was announced back this october. disney says it plans to may sequels to the six-part "star wars" series so get
but president obama quickly dismissed it because it includes no tax increase for the wealthiest americans. >> the speaker's proposal right now is still out of balance. >> there's only one person out of 307 million americans who can sign something into law. that's the president. >> a "washington post" poll shows 53% of americans will blame republicans if the nation goes over the so-called "fiscal cliff." 29% would hold the president responsible. >>>...
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Dec 4, 2012
12/12
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there's no other way to do it. >> reporter: president obama says his plan will raise taxes on the rich bringing in 1.6 trillion. republicans want to close tax loopholes and eliminate deductions to raise $800 billion in new revenue. >> the president has a huge responsibility to work together with congress and find a solution to avert the "fiscal cliff." >> reporter: and they say it's now up to the president to find a plan that can pass both chambers of congress. susan mcginnis, cbs news, washington. >>> time now 4:40. santa comes early for some facing foreclosure. the promise being made to certain people struggling to keep their homes. >> plus the white house's worst fears. what the syrian government may try to do to its people. >> but a beer run gets ugly as fist flies. the suspects and the struggle coming up after the break. clerk got into a fist fightr beer. surveillance video shows a man apparently steag two cases of beer from the s statio >>> a south carolina convenience story lines clerk got into fistfight over a case of beer. a man is shown stealing two cases of beer from the gas
there's no other way to do it. >> reporter: president obama says his plan will raise taxes on the rich bringing in 1.6 trillion. republicans want to close tax loopholes and eliminate deductions to raise $800 billion in new revenue. >> the president has a huge responsibility to work together with congress and find a solution to avert the "fiscal cliff." >> reporter: and they say it's now up to the president to find a plan that can pass both chambers of congress. susan...
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Dec 6, 2012
12/12
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incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there is a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary geithner's comments about going over the cliff. the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me-- or do not used words like "curt," "frank" and "direct" meaning it was probably more gentle. also i'm told scott this is no longer a time for check-in phone calls between these two leaders. everything now is substantive about the underlying merit of what treasury secretary geithner. republicans bel
incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there is a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the...
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Dec 5, 2012
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. >> president obama draws a hard line on taxes. >> republican and the white house both have offers on the table on how to resolve the nation's fiscal cliff crisis. >> we wasted an enormous amount of time here, sparring back and forth in public. it's a good time to get serious. >> let's just go over the [ bleep ] cliff. because you know why? at least for a few seconds, it will feel like we're flying. >>> this morning, police are questioning a man in that deadly subway push. they say he has implicated himself in the crime. >>> duchess of cambridge is continuing to feel better. >> australian radio station was able to pose as the queen, get information on the phone about kate's health. >> want to see how her -- >> she is sleeping at the moment and she has had an uneventful night. >> mohamed morsi under siege after 100,000 protests in the streets. >>> l.a.'s mayor has announced an end to an eight-day strike at the largest port complex. >>> best man's friend is learning a new trick. how to drive a car. get off the road. >> three, two, one. >> god bless us, every one. >>> nine weeks, officia
. >> president obama draws a hard line on taxes. >> republican and the white house both have offers on the table on how to resolve the nation's fiscal cliff crisis. >> we wasted an enormous amount of time here, sparring back and forth in public. it's a good time to get serious. >> let's just go over the [ bleep ] cliff. because you know why? at least for a few seconds, it will feel like we're flying. >>> this morning, police are questioning a man in that deadly...
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Dec 1, 2012
12/12
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obama is now on record seeking twice as much in higher tax revenue than the democratically controlled senate passed earlier this year with only 51 votes. tax increases that cannot pass ase senate have no chance in the house republican conference, which is why republicans regard the president's proposal and his heech today as more static than substance. >> pelley: major, thank you. well, the government will be getting a shot of revenue, about $67 million from just one american family in dearborn, missouri. that is their tax bill after they hit the lottery jackpot. mark and cindy hill claimed their share of the record $588 million power ball jackpot. that's their six-year-old daughter jayden whom they adopted from china and her big brothers. cindy, who lost her job two years ago, was the first to know that they'd won. >> i didn't find out until the next day after i'd taken my daughter to school and i went by to see what the numbers were and i got back in my car and i didn't have my glasses and i was thinking "is that the right numbers, is that the right numbers?" and i was shaking and i
obama is now on record seeking twice as much in higher tax revenue than the democratically controlled senate passed earlier this year with only 51 votes. tax increases that cannot pass ase senate have no chance in the house republican conference, which is why republicans regard the president's proposal and his heech today as more static than substance. >> pelley: major, thank you. well, the government will be getting a shot of revenue, about $67 million from just one american family in...
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Dec 5, 2012
12/12
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speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining up against him. jim demint a tea party leader said speaker boehner's $800 billion tax hike will destroy american jobs and allow politicians in washington to spend even more. disagreements among republicans and democrats here on capitol hill is nothing new, but tuesday a republican aide told us the two sides aren't even talking. not surprisingly the white house disagrees. >> i can guarantee you conversations continue at different levels. and among different groups. >> reporter: both parties are ready to play the blame game in case negotiations fail. >> there's only one person out of 370 million americans who can sign something into law and that's the president. >> 60% of americans are asking the wealthy to pay more. >> reporter: a "the washington post" poll say 53% of americans will blame republicans and 29% would hold the president responsible if the nation goes over the fiscal cliff. the two s
speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining up against him. jim demint a tea party leader said speaker boehner's $800 billion tax hike will destroy american jobs and allow politicians in washington to spend even more. disagreements among republicans and democrats here on capitol hill is nothing new, but tuesday a republican aide...
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Dec 3, 2012
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not include a tax hike on the richest americans. geithner remains optimistic despite harsh words from republicans. >> reporter: with the clock ticking in washington and the fiscal cliff moving closer every day, tim geithner said they will only approve a plan with tax rates. >> if they are going to force higher rates on virtually all americans, because they are unwilling to let tax rates go up on 2% of americans, then that's the choice they're going to have to make. >> reporter: geithner presented his plan to republicans, calling for $1.6 trillion in revenue and cuts in stimulus spending. he suggested the bush era tax cuts must expire for the wealthiest americans. >> we put forward a very comprehensive, carefully designed mix of savings and tax reforms to help us put us back on a path to stabilizing our debt and living within our means. >> reporter: republicans did not welcome the proposal. >> i was disappointed by the president's proposal. i think it is a rerun of his budget proposal. the revenue proposals are $1.6 trillion in reven
not include a tax hike on the richest americans. geithner remains optimistic despite harsh words from republicans. >> reporter: with the clock ticking in washington and the fiscal cliff moving closer every day, tim geithner said they will only approve a plan with tax rates. >> if they are going to force higher rates on virtually all americans, because they are unwilling to let tax rates go up on 2% of americans, then that's the choice they're going to have to make. >>...
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Nov 30, 2012
11/12
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would take effect. >>> little is being said about the meeting between president obama and mitt romney. the two had lunch at the white house yesterday their first face-to-face encounter since their final presidential debate. the media were kept away from the private get-together. white house officials say the two discussed u.s. leadership in the world and promised to stay in contact. >>> united states supreme court is due veal today whether it will take up california's same- sex marriage debate. this afternoon the court is due it reveal a list of cases it plans to review. if the prop 8 case is on the list it would likely be decided next summer. but if the justices opt not to hear it, the appeals court ruling against prop 8 would stand. >> if the court denies the appeal and marriages resume it's a historic day in california. if the court hears the case, we believe we'll have that huge historic day. it will just take place a little farther down the road next june. >> meanwhile prop 8 supporters say if their appeal fails it would go against the wilf the california voters. >>> the federal
would take effect. >>> little is being said about the meeting between president obama and mitt romney. the two had lunch at the white house yesterday their first face-to-face encounter since their final presidential debate. the media were kept away from the private get-together. white house officials say the two discussed u.s. leadership in the world and promised to stay in contact. >>> united states supreme court is due veal today whether it will take up california's same-...
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. >>> treasury secretary timothy geithner said the obama administration will reject a budget deal that doesn't include higher taxes for the wealthiest 2% of americans. >> and the "fiscal cliff" deadline is now a day closer and still no deal between the president and republicans. political reporter grace lee is live in the newsroom with what this gridlock could cost californians. grace. >> reporter: well, liz, now we have some very real numbers that's what's at stake if we go over the "fiscal cliff." the daily democrat predicts that our state could lose $4.5 billion and lose about 200,000 jobs and with 26 days until that deadline, the painful reality is just becoming more clear. >> at 3:00, they want to start us closing on wednesday at noon. >> reporter: a social security employee for 30 years he is joining fellow federal workers across the u.s. to spread the word that the "fiscal cliff" is looming and at stake, social security benefits for millions. >> they seem to go for the people who had the least political pull, poor, disabled, people in east oakland. >> reporter: people like a soc
. >>> treasury secretary timothy geithner said the obama administration will reject a budget deal that doesn't include higher taxes for the wealthiest 2% of americans. >> and the "fiscal cliff" deadline is now a day closer and still no deal between the president and republicans. political reporter grace lee is live in the newsroom with what this gridlock could cost californians. grace. >> reporter: well, liz, now we have some very real numbers that's what's at...
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obama's plan in the poll 48% want the tax cuts on incomes exceeding quarter million dollars a year to expire in january while continuing them for everyone else. 32% want to renew the tax cuts for everyone. findings seem to strengthen the president's hand in his negotiations >> recall alert for parents from 7 on your side. government is taking action against makers of nap nanny, a portable baby recliner, after five infanned -- five infant deaths. the nap nanny poses risk of injury and death to infants. the commission says it is a dangerous product with a faulty sign. coming up on "good morning america" at 7:00, why the makers are refusing to pull its product. >>> this afternoon cal will hold a news conference to introduce the bear's new coach, sonny dykes has hired yesterday to rebill the program he leaves louisiana tech after three seasons. this year -- his bulldogs led the nation in scoring. he runs spread offense expected to bring exciting football to berkeley he has previous experience in pac 12 as assistant at arizona. >>> still ahead, same-sex marriage is now legal in yet another
obama's plan in the poll 48% want the tax cuts on incomes exceeding quarter million dollars a year to expire in january while continuing them for everyone else. 32% want to renew the tax cuts for everyone. findings seem to strengthen the president's hand in his negotiations >> recall alert for parents from 7 on your side. government is taking action against makers of nap nanny, a portable baby recliner, after five infanned -- five infant deaths. the nap nanny poses risk of injury and...
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obama later skipped congressional meetings and campaigned to extend the 2% payroll tax cut and maintain lower student loan interest rates, he won. the president is primarily focused on step one of this process-- winning the middle class tax cut debate. step two is being led by his treasury secretary jim geithner and liaison rob nabors. they are going to work with congress on spending cut and other fiscal cliff details. the first meeting will be tomorrow on the hill. >> pelley: major, president said today he thought all this could be done by christmas. why does he think so? >> reporter: because that is the big takeaway, scott, from the president's conversation on saturday with house speaker john boehner. the two agreed it was in foeryone's best interest to get a fiscal cliff deal sooner rather than later, both agreed to aim for one before christmas, but they also acknowledged, scott, it will be very difficult to achieve that. >> pelley: thank you, major. will the president's team find a receptive republican congress? nancy cordes is on capitol hill for us tonight. nancy. >> reporter: wel
obama later skipped congressional meetings and campaigned to extend the 2% payroll tax cut and maintain lower student loan interest rates, he won. the president is primarily focused on step one of this process-- winning the middle class tax cut debate. step two is being led by his treasury secretary jim geithner and liaison rob nabors. they are going to work with congress on spending cut and other fiscal cliff details. the first meeting will be tomorrow on the hill. >> pelley: major,...
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president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done. >> congress and the president have until the end the year to avert automatic spending cuts and tax increase. take a quick break. when we come back on the morning news a preview of this morning's jobs report. what role did sandy play in last month's hiring. this is the morning news. port. what role did sandy play in hiring? ♪ [ male announcer ] with free package pickup from the u.s. postal service the holidays are easy. visit usps.com. pay, print, and have it picked up for free before december 20h for delivery in time for the holidays. you can even give us special instructions on where to find it. free package pickup. from the u.s. postal service. because it's nice to have an extra pair of hands around for the holidays. because it's nice to have an extra
president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done. >> congress and the president have until the end the year to avert automatic spending cuts and tax increase. take a quick break. when we come back on the morning news a preview of this...
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increases and spending cuts scheduled to start in january. >>> president obama will have lunch in a couple of hours with mitt romney. it will be the first time the two have met face to face since their final debate shortly before this month's election. the event at the white house will be private. no aides will be present. no media will be allowed. it would be fun to be there. >> no kidding and that "fiscal cliff" i'm sure is going to come up. >>> a new york city nanny pleads not guilty to charges that she killed two children. yoselyn ortega is accused of stabbing a 6-year-old girl and a 2-year-old boy who were in her care. she also stabbed herself and is still in the hospital. police say the mother returned home last month and found her children dead. >>> two bp rig supervisors and a former bp executive pled not guilty to criminal charges in the deadly deepwater horizon rig explosion from 2010. the supervisors are charged with manslaughter in the deaths of 11 rig workers. the former executive is charged separately with concealing information from congress about the amount of oil le
increases and spending cuts scheduled to start in january. >>> president obama will have lunch in a couple of hours with mitt romney. it will be the first time the two have met face to face since their final debate shortly before this month's election. the event at the white house will be private. no aides will be present. no media will be allowed. it would be fun to be there. >> no kidding and that "fiscal cliff" i'm sure is going to come up. >>> a new york...
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there's no other way to do it. >> reporter: president obama says his plan will raise taxes on the rich, bringing in $1.6 trillion. republicans want to close tax loopholes and eliminate deductions, which they say will raise $800 billion in new revenue. >> the president has a huge responsibility to work together with congress and find a solution to avert the fiscal cliff. >> reporter: and they say it's now up to the president to find a plan that can pass both chambers of congress. so now that each side has rejected the other's first offer, it's going to be interesting and important to watch the timing of the next offer on the part of the white house to really try to figure out, terrell, how far both sides are willing to take us toward that cliff. >> and which side has the edge at this point. susan mcginnis in washington this morning. thank you so much. >>> iran says this morning it's captured a united states drone flying over iranian air space. the drone was reportedly gathering information over the persian gulf when it was captured by iranian naval units. in 2011, iran brought down a ci
there's no other way to do it. >> reporter: president obama says his plan will raise taxes on the rich, bringing in $1.6 trillion. republicans want to close tax loopholes and eliminate deductions, which they say will raise $800 billion in new revenue. >> the president has a huge responsibility to work together with congress and find a solution to avert the fiscal cliff. >> reporter: and they say it's now up to the president to find a plan that can pass both chambers of...
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otherwise, tax hikes will automatically kick in. >>> talk about a power lunch. president obama and mitt romney, who will dine at the white house together tomorrow afternoon. this will be the first time they have met since their final debate. the meeting will be private. no aids and no media. >>> armed with guns and sledgehammers, the daring bay area jewelry heist that took 75 seconds to pull off. >>> well, that and $7 will get you a cup of coffee. what's so special about starbucks' new brew? >>> a $580 million jackpot is up for grabs tonight. now california wants in on the action. how soon,,,,,,,,,,,,,, every time someone chooses finish over cascade, it sparks a movement. look ! no ugly spots ! and see that shine ! you've got to try finish. because once they try finish, they can't keep it to themselves. i'm switching for good. wow ! awesome ! finish is seriously good. cannot believe how great it works. incredible shine. i won't use anything else. love, love, love finish ! so far over a million neighbors, friends, and family have switched to finish. join the fini
otherwise, tax hikes will automatically kick in. >>> talk about a power lunch. president obama and mitt romney, who will dine at the white house together tomorrow afternoon. this will be the first time they have met since their final debate. the meeting will be private. no aids and no media. >>> armed with guns and sledgehammers, the daring bay area jewelry heist that took 75 seconds to pull off. >>> well, that and $7 will get you a cup of coffee. what's so special...
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he will make the case that congress needs to take action to stop taxes from going up on middle class consumers during the holiday season. republicans say they are not impressed with the president's latest proposal brought to capitol hill yesterday by treasury secretary timny geithner. the white house proposal contists of $1.6 trillion in higher taxes over ten years. the administration wants $50 billion for infrastructure spending in 2015. in return the president is offering to support an unspecified amount of spending cuts this year and legislation for saving up to $400 billion from programs such as medicare over a decade. >>> 5:47. the great hostess bakery selloff can begin. the judge approved to sell all of the hostessing a sets including baking plants, recipes, and trademarks. it also included $2 million in bonuses if they meet certain standards in the way they handle the liquidation. >>> voters in richmond may have rejected a tax on soda but the battle isn't other bay area cities that are considering similar measures. >>> mountain view police will release information on the alleg
he will make the case that congress needs to take action to stop taxes from going up on middle class consumers during the holiday season. republicans say they are not impressed with the president's latest proposal brought to capitol hill yesterday by treasury secretary timny geithner. the white house proposal contists of $1.6 trillion in higher taxes over ten years. the administration wants $50 billion for infrastructure spending in 2015. in return the president is offering to support an...
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while president obama wants tax cuts to expire for the wealthiest americans, most republicans don't. behind closed doors wednesday, oklahoma's tom cole told his gop colleagues they should sign off on the middle class cut extensions. the house speaker isn't budging. >> it will hurt small businesses and our economy. it's why it's not the right approach. >> reporter: obama administration officials will look for some middle ground in separate meetings with boehner and other congressional leaders on capitol hill thursday. danielle nottingham, cbs news, washington. >>> even though it's too late to cash in on tonight's powerball jackpot, when california might get into the game. >> the fallout at apple from the misfire on maps. ,, ,,,,,,,,,,,,,, tonight, after making her 1- million dollars richer! ye] nguyen claimed h >>> a milpitas woman is thanking her brother tonight after making her $14 million richer. she claimed her super lotto jackpot prize today but it was her brother who bought the winning ticket in september when she couldn't get to the store. so now she is planning to share her wi
while president obama wants tax cuts to expire for the wealthiest americans, most republicans don't. behind closed doors wednesday, oklahoma's tom cole told his gop colleagues they should sign off on the middle class cut extensions. the house speaker isn't budging. >> it will hurt small businesses and our economy. it's why it's not the right approach. >> reporter: obama administration officials will look for some middle ground in separate meetings with boehner and other...
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the obama administration insists there's no deal without a tax increase. susan mcginnis is in washington with details this morning. susan, good morning to you. >> reporter: good morning, terrell. it may appear the two sides are nowhere but these talks are expected to pick up dramatically very soon. december is here and as they say here in washington the lawmakers can smell the jet fumes meaning the planes taking them home for their holiday recess. what we're hearing there should be a deal by christmas. the white house is already decorated for the holidays but the mood here in washington is anything but festive. >> i think we're going over the cliff. >> reporter: if congress doesn't act america will ring in the new year with $110 billion in spending cuts and a $500 billion tax increase leaving the average household with a nearly $3,500 hangover. timothy geithner was on the hill last week to present the president's plan to congress. >> i was flabbergasted. >> reporter: president obama wants $1.6 trillion in new taxes on the rich. $400 billion in cuts to enti
the obama administration insists there's no deal without a tax increase. susan mcginnis is in washington with details this morning. susan, good morning to you. >> reporter: good morning, terrell. it may appear the two sides are nowhere but these talks are expected to pick up dramatically very soon. december is here and as they say here in washington the lawmakers can smell the jet fumes meaning the planes taking them home for their holiday recess. what we're hearing there should be a deal...
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president obama this is a plain political chicken right now. he is proposing that 600 billion in spending cuts and 200 building and is spending to stimulate county the economy. this say that republicans do not have a plan right now so we are in limbo until congress acts. hopefully the two weeks will get together and get through their talks. >> three firefighters were involved in a net accident and weather-related they were on the shoulder of the highway when a car slammed into the side of the fire engine. three firefighters were hurt and the driver of the car that was involved in the original accident on the side of the road was hurt as well from the second car. here are photos of the firefighters and there in the hospital. two of the needed surgery but three of them all three are expected to survive. this 737 and a live look outside and san jose and traffic is moving slowly working its way. there is lots of sunshine. >> san jose has marked its 43rd homicide of the year. the most recent was a 70 year-old boy who was gunned down on a residential
president obama this is a plain political chicken right now. he is proposing that 600 billion in spending cuts and 200 building and is spending to stimulate county the economy. this say that republicans do not have a plan right now so we are in limbo until congress acts. hopefully the two weeks will get together and get through their talks. >> three firefighters were involved in a net accident and weather-related they were on the shoulder of the highway when a car slammed into the side of...
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otherwise, tax hikes will automatically kick in. >>> talk about a power lunch. president obama and mitt romney, who will dine at the white house together tomorrow afternoon. this will be the first time they have met since their final debate. the meeting will be private. no aids and no media. >>> armed with guns and sledgehammers, the daring bay area jewelry heist that took 75 seconds to pull off. >>> well, that and $7 will get you a cup of coffee. what's so special about starbucks' new brew? >>> a $580 million jackpot is up for grabs tonight. now california wants in on the action. how soon until you can play powerball? ,, sledgehammers, hit a bay ara jewelry store. it happened in los gatos. c5 reporter kiet >>> they were in and out in a flash. two thieves waving guns and sledgehammers hit a bay area jewelry store. it happened in los gatos. kiet do shows us just how quickly they struck. >> reporter: for employees at this fine jeweler's, the surveillance video captured the longest 75 seconds of their lives. >> did you think you were going to die? >> it crosses you
otherwise, tax hikes will automatically kick in. >>> talk about a power lunch. president obama and mitt romney, who will dine at the white house together tomorrow afternoon. this will be the first time they have met since their final debate. the meeting will be private. no aids and no media. >>> armed with guns and sledgehammers, the daring bay area jewelry heist that took 75 seconds to pull off. >>> well, that and $7 will get you a cup of coffee. what's so special...
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president obama visited a northern virginia family who would suffer finally if a -- financially if a deal isn't reached. the president's approval rating is at its highest point since the raid that killdee killed osama bin laden. 42% believe the nation is heading in the right direction. >>> the san diego zoo two new additions. they're 14 week old clouded leopard cubs and their adorable. they are brothers and playful. they like to pounce on each other and climb and use each other as trampolines. they arrived earlier from the nashville view where there's a successful breeding program saying hello for the endangering expertise. they are adorable but grow into big guys. >> you want to take them home until they get really big. >> and send them back to the zoo. >> it's 5:20 hoping to stop the slide. did the raiders beat the broncos in oakland last night. >> i think we all know. >>> he's back at it, the dunk by lebron james that has earned our play of the day. >> did the raiders play in oakland yesterday, that's a better question. here's your snow report. if you're headed to the high country
president obama visited a northern virginia family who would suffer finally if a -- financially if a deal isn't reached. the president's approval rating is at its highest point since the raid that killdee killed osama bin laden. 42% believe the nation is heading in the right direction. >>> the san diego zoo two new additions. they're 14 week old clouded leopard cubs and their adorable. they are brothers and playful. they like to pounce on each other and climb and use each other as...
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. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending consults on the middle class. >> creating jobs -- >> reporter: president obama and house speaker john boehner spoke on the phone wednesday but publicly are holding firm on their positions. the white house has made clear the country could go over the cliff if republicans refuse to raise taxes on the top 2% of american earners. >> to do that to 98% of the american people, because of an insistence that the wealthiest americans get a tax cut would be profoundly wrong. >> reporter: republican leaders say they will close loopholes and eliminate tax breaks but bush-era tax cuts must be extended to all americans. >> reporter: the standoff and debt concerns ryan. so much so, that he is the guy if the suit dancing gangnam style with former senator alan simpson. the group the can kicks back is working to get young people involved in fixing the debt crisis. >> we are trying to connect with our generation in a different way using humor to hook them in and get them to learn
. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending consults on the middle class. >> creating jobs -- >> reporter: president obama and house speaker john boehner spoke on the phone wednesday but publicly are holding firm on their positions. the white house has made clear the country could go over the cliff if republicans refuse to raise taxes on the top 2% of american earners. >> to do that to 98%...
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now president obama taking his pitch out on the road talking directly to americans about tax increases and about spending cuts. later on this afternoon, he'll walk the assembly line of this manufacturing company just outside of philadelphia. its main product, k'nex. the toys there. the president says the middle class will not be able to support companies like this one without a deal to avoid that fiscal cliff. >> demand is going to go away because all of a sudden you're going to have two, three, $4,000 a year coming out of people's paychecks. >> just yesterday house speaker john boehner calling the massive tax increases and spending cuts scheduled for january 1st a real possibility, but many washington insiders say yes, a deal is still doable. keep hope alive. >> keep hope alive for a break in the rain this morning. it is coming down out there and flash flood warnings in effect. >> yeah, that's nothing to mess with. driving conditions right in the heart of when everybody is trying to get to work. we have heavy rain over parts of the bay area. even though you may not have been awakened
now president obama taking his pitch out on the road talking directly to americans about tax increases and about spending cuts. later on this afternoon, he'll walk the assembly line of this manufacturing company just outside of philadelphia. its main product, k'nex. the toys there. the president says the middle class will not be able to support companies like this one without a deal to avoid that fiscal cliff. >> demand is going to go away because all of a sudden you're going to have two,...
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from a home in virginia president obama sat with a middle class family he says will be hit hard if congress doesn't extend middle class tax cuts. >> for them to be burden unthis isly because democrats and republicans aren't coming together to solve this problem gives you a sense of the costs involved in very personal terms. >> republicans are standing behind their counter-offer to close tax loopholes and limit some deductions. they say the president needs to deliver a new plan they can agree on before the january 1 deadline. >>> stocks inched up as investors kept and eye on washington. the dow was up around 40, nasdaq up 16, s&p saw a 5 point increase. >>> the dungeness crab season has hit a snag. local crabbers are refusing to fish for the northern california delicacy after a new price fight with the wholesalers. the cbs 5 reporter anne makovec shows us the solidarity on the docks is being tested. >> strike last year this boat. >> right. >> well, you got go fishing. nobody is making money. >> you got go fishing. >> reporter: tensions are high on pier 45 where a lone crab boat came in this
from a home in virginia president obama sat with a middle class family he says will be hit hard if congress doesn't extend middle class tax cuts. >> for them to be burden unthis isly because democrats and republicans aren't coming together to solve this problem gives you a sense of the costs involved in very personal terms. >> republicans are standing behind their counter-offer to close tax loopholes and limit some deductions. they say the president needs to deliver a new plan they...
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more and more republicans are catching on to that fact. >> today president obama takes his message to a toy manufacturer in pennsylvania. it is an american business off the white house said could be affected because income tax go up forever one next year. >> mitt romney met with president obama from lunch at the white house yesterday we were anticipating it yesterday morning. >> the pair eight at a private dining room it was actually the first time both have met each other since the election wrap up an early november. the present first mentioned meeting with the former governor in his victory speech in chicago o'hare this month. the president said he looked forward to talking with romney about ways to move the country forward. prison obama also praised out romney manage the olympics in salt lake city in 2002. >> will take a quick break back mwith more in a minute. we are watching the wet weather that is our top story of the right light to moderate and at times heavy with the wind out of the bay area's. we will come back with your forecast just a moment. we are back here at 4:30 in the
more and more republicans are catching on to that fact. >> today president obama takes his message to a toy manufacturer in pennsylvania. it is an american business off the white house said could be affected because income tax go up forever one next year. >> mitt romney met with president obama from lunch at the white house yesterday we were anticipating it yesterday morning. >> the pair eight at a private dining room it was actually the first time both have met each other...
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president obama spent his day with the santana family of falls church and he says they're members of the middle class and they'll be hit hard if congress fails to extend their tax cuts. meantime virginia could be hit hard if those spending cuts end up taking place especially in places like fairfax county where federal contracting is king. >> if you go make the kind of cuts that some are suggesting happen, then you're really hurting a lot of the small buss
president obama spent his day with the santana family of falls church and he says they're members of the middle class and they'll be hit hard if congress fails to extend their tax cuts. meantime virginia could be hit hard if those spending cuts end up taking place especially in places like fairfax county where federal contracting is king. >> if you go make the kind of cuts that some are suggesting happen, then you're really hurting a lot of the small buss
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>>catherine: president obama took his case on the road.... visiting a toy factory in pennsylvania... where he told an audience that failing to extend tax cuts for the middle class would mean a 'scrooge christmas' for millions.. the latest white proposal on avoiding the fiscal cliff to house speaker john republicans laughed. >> there is a stalemate, let us not kid ourselves. >> perhaps it is a figure of speech but the country cannot afford a stalemate. >>catherine: house speaker john boehner boosting revenue by 1.6 trillion over the next decade would be a 'crippling >> stalemate...let's face it.." "...hope that's a figure of >> speech...shouldn't be talking about a stalemate." >> the key sticking point....taxes. democrats want to extend bush-era tax cuts for the middle class...while allowing rates to jump republicans don't want a tax rate increase on anyone. period. the white house is hoping that the fact the president is taking his case to the congress to act. of course the realand with 32 days before tax hikes and spending cuts kick in....th
>>catherine: president obama took his case on the road.... visiting a toy factory in pennsylvania... where he told an audience that failing to extend tax cuts for the middle class would mean a 'scrooge christmas' for millions.. the latest white proposal on avoiding the fiscal cliff to house speaker john republicans laughed. >> there is a stalemate, let us not kid ourselves. >> perhaps it is a figure of speech but the country cannot afford a stalemate. >>catherine: house...
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. >>> this morning president obama travels to a toy factory to make another appeal for his approach to avoiding the fiscal cliff. the president will make the case that congress needs to take action to stop taxes from going up on middle class consumers during the holiday season. republicans say they are not impressed with the president's latest proposal brought to capitol hill yesterday by timny geithner. the white house proposal consists of $1.6 trillion in higher taxes. and want $50 billion in infrastructure spending until 2015. >>> more bay area cities are considering taxes on soda sales. the first city to put the idea up for public vote was richmond. that was defeated earlier this month. now berkeley, vallejo, and alameda county are all thinking about similar measures. the soda industry said the tax would not work because consumers would go to neighboring cities to buy their drinks without the tax. >>> if you want to you'll get a chance to play the power ballot reflection year. the california lottery commission just voted they will join the power ball game and power ball tickets wil
. >>> this morning president obama travels to a toy factory to make another appeal for his approach to avoiding the fiscal cliff. the president will make the case that congress needs to take action to stop taxes from going up on middle class consumers during the holiday season. republicans say they are not impressed with the president's latest proposal brought to capitol hill yesterday by timny geithner. the white house proposal consists of $1.6 trillion in higher taxes. and want $50...
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to win public support for his tax and spend proposing, president obama answered "fiscal cliff" questions on twitter monday. one twitter follower asked, why won't keeping tax rates low across the board encourage more hires and tax revenue? the president replied high-end tax cuts would cost almost $1 trillion while extending middle class cuts will produce growth. if there is no compromise all tax go up and spending will be slashed including cuts to the defense budget. defense contractors gathered in washington monday to discuss the consequences. david language staff is ceo of task a company that develops aviation systems and software for intelligence agencies. >> but i think it's very bad for national security because companies cannot plan. >> republicans sent the president a counterproposal monday afternoon. it includes more than $2 trillion in budget savings and extends tax cuts for all americans. >> us this far republicans have been adamant that rates shouldn't go up on the top 2% wealthiest americans. well, the american people overwhelmingly disagree. >> in addition to using social med
to win public support for his tax and spend proposing, president obama answered "fiscal cliff" questions on twitter monday. one twitter follower asked, why won't keeping tax rates low across the board encourage more hires and tax revenue? the president replied high-end tax cuts would cost almost $1 trillion while extending middle class cuts will produce growth. if there is no compromise all tax go up and spending will be slashed including cuts to the defense budget. defense...
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Nov 30, 2012
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president obama and mitt romney met privately at the white house to have lunch. their first face-to-face meeting since the campaign debate. aides say the president wanted to discuss romney's ideas for making government run more smoothly. >> somebody with governor romney's experience clearly could have insight into how to maximize efficiency in an operation like the federal government. >> the white house says the plan has no plan to offer romney a job. there's hope the friendly meeting will inspire bipartisan cooperation on capitol hill. >>> former president george h.w. bush is in a houston hospital this evening getting treatment for a lingering cough. the 88-year-old has been in and out of the hospital for bronchitis. he is in stable condition and is expected to go home in a few days. >>> a supersized spending spree. apple is taking over a part of the south bay where it plans to spread out, next. >> and cops hear a lot of excuses for bad driving but wait until you hear what one driver blamed for this parking lot smashup. >>> a day late, $500 million short. califo
president obama and mitt romney met privately at the white house to have lunch. their first face-to-face meeting since the campaign debate. aides say the president wanted to discuss romney's ideas for making government run more smoothly. >> somebody with governor romney's experience clearly could have insight into how to maximize efficiency in an operation like the federal government. >> the white house says the plan has no plan to offer romney a job. there's hope the friendly...
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Dec 1, 2012
12/12
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. >>> president obama is taking his fiscal fight to the public. today he visited a toy factory in pennsylvania urging the crowd to persuade congress to increase the tax cuts. >> it's not acceptable to me or you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> we're willing to put revenues on the table. but revenues that -- that come from closing loopholes, getting rid of special interest deductions, and not raising rates. >> congress needs to reach an agreement in the next few weeks to avoid automatic hikes and cuts come january. >>> they bought just five tickets and picked numbers at random. that's how a missouri family lucked into the biggest powerball lottery of all time. cbs moneywatch reporter alexis christoforous shows us the recently jobless couple now the country's newest millionaires. [ applause and cheers ] >> reporter: the country's newest megamillionaires stepped into the spotlight. >> the hill family, come on up. >> reporter:
. >>> president obama is taking his fiscal fight to the public. today he visited a toy factory in pennsylvania urging the crowd to persuade congress to increase the tax cuts. >> it's not acceptable to me or you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> we're willing to put revenues on the table. but revenues that -- that come from closing loopholes, getting...
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Dec 6, 2012
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. >>> president obama says a budget deal could be reached in a week if republicans accept higher taxes for the wealthy he was 2% of americans. but that "fiscal cliff" deadline is less than four weeks away and still no deal between the president and republicans. cbs 5 political reporter grace lee on what this gridlock could cost californians. >> reporter: basically, it could cost us billions. the daily democrat estimates that if no deal is reached and we go over the "fiscal cliff," our state could lose out on $4.5 billion of federal money and lose 200,000 jobs. and this can hit the lower middle class with a one-two punch a combination of unemployment and fewer social safety nets. >> they want us to close on wednesday at noon. >> reporter: a social security employee for 30 years is joining fellow federal workers across the u.s. to spread the word the "fiscal cliff" is looming and at stake social security benefits for millions. >> they seem to go for the people who had the least political pull, in other words poor and disabled and people here in east oakland. >> reporter: like this social
. >>> president obama says a budget deal could be reached in a week if republicans accept higher taxes for the wealthy he was 2% of americans. but that "fiscal cliff" deadline is less than four weeks away and still no deal between the president and republicans. cbs 5 political reporter grace lee on what this gridlock could cost californians. >> reporter: basically, it could cost us billions. the daily democrat estimates that if no deal is reached and we go over the...
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Dec 6, 2012
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doesn't bid on higher taxes. on top earners. a just released poll shows nearly half of those ads say it's time to end tax cuts for the wealthy but keep it in place for americans earning $250,000 or less. 32% say the tax cuts should remain in place for everyone. during a broadcast interview yesterday timothy geithner was asked what if republican don't agree to raising taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, we say there's no prospect for an agreement that doesn't involve those tax rates going up. remember, it's 2%. remember, all of those americans, too, get a tax cut into that framework on the first $250,000 of their income. >> that said the president and speaker john boehner discussed the budget by phone yesterday. susan mcginnis is in washington with the latest on this game of fiscal chicken. susan, good morning to you. >> right. good morning, terrell. yeah, that phone call does raise the possibility that some serious talks could start soon, but now we lear
doesn't bid on higher taxes. on top earners. a just released poll shows nearly half of those ads say it's time to end tax cuts for the wealthy but keep it in place for americans earning $250,000 or less. 32% say the tax cuts should remain in place for everyone. during a broadcast interview yesterday timothy geithner was asked what if republican don't agree to raising taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, we say there's no...
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Dec 7, 2012
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meanwhile president obama paid a visit to a northern virginia family who would suffer financially if a deal isn't reached. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives you a sense of the cost involved in very personal terms. >> still the white house says the across the board spending cuts and tax hikes will takes effect if republicans refuse to raise taxes on the wealthiest americans. meanwhile a new survey shows the president's approval rating is at the highest point since the raid that killed osama bin laden. in addition, 42% believe the nation is heading in the right direction. >>> 6:10, a tycoon wanted for murder, how john mcafee ended up in the hospital. >>> a van plows into a jewelry store, narrowly missing the customer, what the driver says caused her to lose control. >> last going on, i had a former student give birth in the car. >> how about that, a lesson they never expected how teachers stepped in to deliver a baby in a school parking lot. we got that story and much more when we come back. ,,,
meanwhile president obama paid a visit to a northern virginia family who would suffer financially if a deal isn't reached. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives you a sense of the cost involved in very personal terms. >> still the white house says the across the board spending cuts and tax hikes will takes effect if republicans refuse to raise taxes on the wealthiest americans. meanwhile a new...